SYM FINANCIAL Corp Sells 397 Shares of Incyte Corporation $INCY

SYM FINANCIAL Corp lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,565 shares of the biopharmaceutical company’s stock after selling 397 shares during the period. SYM FINANCIAL Corp’s holdings in Incyte were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INCY. AQR Capital Management LLC boosted its stake in Incyte by 92.3% during the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after acquiring an additional 3,233,356 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Incyte by 71.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock worth $162,508,000 after acquiring an additional 995,204 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Incyte by 65.6% during the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock worth $152,062,000 after purchasing an additional 994,609 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Incyte during the second quarter worth $50,076,000. Finally, Victory Capital Management Inc. boosted its position in shares of Incyte by 581.3% during the first quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock worth $49,236,000 after purchasing an additional 693,782 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 2.0%

NASDAQ INCY opened at $93.08 on Tuesday. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 0.71 and a beta of 0.73. The stock’s 50 day moving average price is $85.81 and its two-hundred day moving average price is $73.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $93.17.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays initiated coverage on Incyte in a report on Friday, August 1st. They set an “overweight” rating and a $90.00 target price on the stock. Guggenheim reiterated a “neutral” rating on shares of Incyte in a report on Friday, September 19th. Wells Fargo & Company upgraded Incyte from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. BMO Capital Markets reiterated an “underperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada lifted their price target on shares of Incyte from $72.00 to $81.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.79.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.